Diagnostics Through the Genomics Are Anticipated To Lead The Market Of The Global Genomics Market
According to a new market research study titled ‘Genomics Market to 2025 – Global Analysis and Forecasts by technology, product & service application and end user. The global genomics market is estimated to account for US$ 32,995.3 Mn by 2025 as compared to US$ 14,728.6 Mn in 2017, growing at a CAGR of 10.8% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global genomics market and the factors driving the market along with those fact as restraint to its growth.
The growth of the genomics market is expected rise due to the trending technologies used for the genomics. The innovative technologies used for genomics have brought promises of unexpected changes in the healthcare industry. The changes in the field of the genomics is driven by the nine trends that have capabilities to shape the revolution of genomics in the future. In addition, the genomics has exceeded expectations more than the past three decades due to enormous changes in technology that has enabled researchers to analyze larger pieces of the human genome. The nine trends that are contributing in shaping the genomics market include adoption of NGS, single-cell biology, up-coming RNA biology, up-coming molecular stethoscope, genetic testing, and patients’ diagnosis through genomics, bioinformatics, extensive research and clinical trials. These trends have huge potentials to create substantial commercial opportunities for in vitro diagnostic (IVD) companies. Furthermore, key players such as Illumina, Qiagen, Thermo Fisher Scientific Inc, Agilent, Roche and more are the key innovators for these technologies and these are constantly engaged in the developments of products for the genomics.
The application segment of the genomics market is classified into diagnostics, drug discovery & development, precision/personalized medicine, agriculture & animal research and others. In 2017, diagnostics segment held the largest share of 32.2% of the market. In addition, the segment is expected to dominate during the coming years owing to the benefit of avoiding the inheritance of the diseases in their children and diagnostics provides clarity for more concise treatment. Likewise, the drug discovery and development segment is expected to be the fastest growing application segment for the genomics market. The overall application segment market was valued at US$ 14,728.6 Mn in 2017 and is anticipated to grow significantly in the forecast period.
Key industry players operating in the field of genomics across the globe include Thermo Fisher Scientific Inc., Illumina Inc., and Eurofins. Other market players are Qiagen, Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Danaher, and GE Healthcare.
The report segments the global genomics market as follows:
Global Genomics Market – By Technology
Global Genomics Market – By Product & Service
Global Genomics Market – By Application
Global Genomics Market – By End User
Global Genomics Market – By Geography
North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South & Central America (SCAM)
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